Inflation in Spain surges to 4.9% in September
The Corner The advance indicator of the Consumer Price Index (CPI) published by the INE sets annual inflation at 4.9% in September, six-tenths higher than in August. Core inflation—which excludes energy and unprocessed food—also increases to 3.1%, confirming that the price rise is structural and affects the daily shopping basket. The HICP, the index comparable at the European level, reaches 5.0%.…
Consumer prices in Spain surged to a 4.9% inflation rate in September, a six-tenths point increase from August, according to the National Statistics Institute's flash estimate of the Consumer Price Index (CPI). This significant rise in inflation, now the highest since February 2023, is primarily due to the escalating cost of fuel and lubricants for vehicles.
The surge in fuel prices, which had fallen in the same month of the previous year, contributed to the sharp rebound in inflation. Energy products saw a substantial increase of 21.6%, while unprocessed food prices rose by 5.8% and services by 3.9%. Core inflation, excluding food and energy products, also increased by two-tenths, reaching 3.1%.
In September, consumer prices rose by 0.3% compared to August, the largest monthly increase since 2021. This marks the eighth consecutive month with a positive monthly rate, following a 0.4% decrease in January. The Harmonised Index of Consumer Prices (HICP), used for European comparisons, saw an annual rate increase by four-tenths to 5%, with core inflation for this indicator at 3.2%. The figures released are provisional, with the final September reading expected on October 14th.
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